HomeMy WebLinkAboutBy-law 3583 THE COF~OP~T~C~ OF T~ TOWNSHIP OF PICKERING
BY.L~W NO. ~5
A ~-law %~ au~ori~e the issue ~f a D~benture
in the prinoi~l ~ount of $ 26%,000.00
for public school pu~ses
~S %he school ~a~ ~ed in Schedule "A" attached he~t~ has
~plied to the Council of ~e Oo~oration of the To.ship of Pickerin~
%o p~4e %he s~ of $ 26~,000.00 by the issue of Debentures of the Co~eratien f~r
%~ publi~ school p~oses se{ out in Sohio "A" attached he.to and the Co.ration
~a a~v~ ef said appli~ti~n;
~ ~ for thm pu~oses aforesaid the Councll
e~i~% to borr~ m~ney ~ the issue a~ sale to ~e Ontario Education Capital
O~tion of a De%e~tu~ ~f this Munici~lity in the principal amount of $ 265,000.00
bea~ info. st at the rate of 6-3/$ % per ann~ payable s~l-ann~l~, whi~ i~ the
~t ~f'the debt in--ed to be ~ated by this
N~ ~ the ~uncil of ~e ~oratien of the T~ship
of Picke~ug e~cts as fell~s:
1. T~T for the ~osea afe~aaid money shall be bo~wed
~tion of the T~ship of Picke~ng by the issue ef
De~tu~ of the Co.option in the p~noipal ~ount ef $ 265,000.00 b~a~ug ~te~at
at the ~t~ of 6-3/4 % ~r ann~ ~yable s%mi-annually on the 1st day of June
an~ 1st ~y of December in each year of the cu~n~ of the Debentu~, u~en ~e
p~i~l ~ f~-om t~e to t~e ~i~ng u~aid.
2. T~T the said ~nt~ s~ll be dated the 1st day ~f Decem~r
a~ s~ll ~ ~ble in 20 annual i~ata~ents of p~naipal en the 1st day ef ~cember
in the years 1~ 69 to 19 88 , incl~ve, and the ~e~ti~ amounts ef p~noi~l
inte~st ~yable in ~ect of such D~ntu~ in the ~ars 19 69 to 19 88 , i~l~i~,
shall be as .~t fo~h in S~he~le "B" attached he.to.
3. T~T the said ~ents of M~ncipal a~ interest s~ll be payable in 1~
money of Cam~ ~ cheques sent thigh th* post to the ~gistered add.se of the
~giste~ ~ of the Debentu~ an4 sueh ch~ues shall ~e payable at par in the ~ty
of Toronto.
4. T~T the eaid ~bentu~ shall be sealed ~th the Seal of the Co.ration and
s~ll be si~md by the Head of the Co~cil or ~ some other person ~thoriz~ by By-law
bo sign the s~, and ~ the Treasu~r.
5. THAT all sums required to pay off the instalments of principal of the Debenture
and to pay interest thereon as set out in the sixth column of Schedule "B" attached hereto
shall be levied and raised in the years 19 69 to 19 88 , inclusive, by a special rate
sufficient therefor, over and above all other rates, upon all the rateable property
assessed to the ratepayers who are supporters of public schools under the jurisdiction of
The Publio School Board of the Township School Area of Picketing Number 2 at the same
time and in the same manner as other rates.
6. THAT the said Debenture be sold to The Ontario Education Capital Aid Corporation.
7. THAT the said Debenture shall contain a clause providing for the registration
thereof pursuant to section 323 of The Municipal Act.
8. THAT application shall be made to the Ontario Municipal Board for approval of
this By-law and for the certification of the Debenture to be issued hereunder pursuant to
sections 58 to 60 of The Ontario Municipal Board Act.
9. THAT Schedules "~' and "B" attached hereto, are hereby declared to be and to form
part of this By-law.
ENACTED this 3-~day of /~Z~-~*~' , 19~
C*-2
THE CORPORATION OF THE TOWNSHIP OF PICKERING
BY-LAW NO. JY~ ~
SCHEDULE "B"
I 2 3 4 5 6
PAYMENT DATE PAYMENTS ANNUAL AMOUNT
NUMBER DUE PRINCIPAL INTEREST TOTAL LEVIED HEREUNDER
1 June l, 1969 $ $ 8,943.75 $ 8,943.75 $
2 December 1, 1969 7,000.00 8,943.75 15,943.75 24,887.50
3 June 1, 1970 8,707.50 8,707.50
4 December l, 1970 7,000.00 8,707.50 15,707.50 24,415.00
5 June 1, 1971 8,471.25 8,471.25
6 December 1, 1971 8,000.00 8,471.25 16,471.25 24,942.50
7 June l, 1972 8,201.25 8,201.25
8 December l, 1972 8,000.00 8,201.25 16,201.25 24,402.50
9 June l, 1973 7,931.25 7,931.25
l0 December l, 1973 9,000.00 7,931.25 16,931.25 24,862.50
ll June l, 1974 7,627.50 7,627.50
12 December l, 1974 9,000.00 7,627.50 16,627.50 24,255.00
13 June l, 1975 7,323.75 7,323.75
14 December 1, 1975 10,000.00 7,323.75 17,323.75 24,647.50
15 June 1, 1976 6,986.25 6,986.25
16 December l, 1976 10,000.00 6,986.25 16,986.25 23,972.50
17 June l, 1977 6,648.75 6,648.75
18 December 1, 1977 11,000.00 6,648.75 17,648.75 24,297.50
19 June l, 1978 6,277.50 6,277.50
20 December l, 1978 12,000.00 6,277.50 18,277.50 24,555.00
21 June 1, 1979 5,872.50 5,872.50
22 December l, 1979 13,000.00 5,872.50 18,872.50 24,745.00
23 June l, 1980 5,433.75 5,433.75
24 December l, 1980 14,000.00 5,433.75 19,433.75 24,867.50
25 June l, 1981 4,961.25 4,961.25
26 December l, 1981 14,000.00 4,961.25 18,961.25 23,922.50
27 June l, 1982 4,488.75 4,488.75
28 December l, 1982 15,000.00 4,488.75 19,488.75 23,977.50
29 June 1, 1983 3,982.50 3,982.50
30 December l, 1983 17,000.00 3,982.50 20,982.50 24,965.00
31 June l, 1984 3,408.75 3,408.75
32 December l, 1984 18,000.00 3,408.75 21,408.75 24,817.50
33 June l, 1985 2,801.25 2,801.25
34 December 1, 1985 19,000.00 2,801.25 21,801.25 24,602.50
35 June l, 1986 2,160.00 2,160.00
36 December l, 1986 20,000.00 2,160.00 22,160.00 24,320.00
37 June 1, 1987 1,485.00 1,485.00
38 December l, 1987 21,000.00 1,485.00 22,485.00 23,970.00
39 June 1, 1988 776.25 776.25
40 December 1, 1988 23,000.00 776.25 23,776.25 24,552.50
$ 265,000.00 $ 224,977.50 $ 489,977.50 $ 489,977.50
ABCC*DEF-4